Cryptocurrency exchange Binance has reached a significant milestone, with CEO Changpeng Zhao announcing on Twitter that the platform now has 150 million registered users. This news comes after Binance’s recent launch in Japan and acquisition of a license in Dubai.
In Japan, Binance has officially launched its services, offering spot trading for 34 tokens including popular options like BTC, ETH, BNB, DOGE, DOT, ENJ, ETC, and LINK. The licensed local cryptocurrency exchange service provider, formerly known as SAKURA Exchange BitCoin, Inc. (SEBC), has undergone a name transformation and is now called Binance Japan Inc.
Meanwhile, as the US Securities and Exchange Commission (SEC) increases its scrutiny of Binance’s activities in the United States, the exchange is turning its attention to alternative markets. Binance FZE, the subsidiary in Dubai, recently became the first exchange in the world to secure an Operational Minimum Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA). This license allows Binance to provide virtual asset exchange and broker-dealer services to institutional and qualified retail investors in Dubai.
To further expand its user base, Binance has also introduced two new Launchpools. The first is Sei (SEI), a Layer-1 solution optimized for digital asset exchange. Users can stake BNB, TUSD, and FDUSD to farm SEI tokens over a 30-day period. SEI will be listed on Binance on August 15.
The second Launchpool is CyberConnect (CYBER), a Web3 social network that enables developers to create social applications. Users can stake BNB, TUSD, and FDUSD to farm the CYBER token over 30 days. CYBER will also be listed on Binance on August 15.
Furthermore, Binance’s internal platform “Mission Control” revealed that Chinese users engaged in approximately $90 billion worth of cryptocurrency trading on the exchange in May. This represents 20% of the global trading volume, making China Binance’s largest market, despite the country’s cryptocurrency ban. However, Chinese users cannot access the Binance.com website as it is blocked in the country.
In addition to China, Binance’s other major markets include South Korea, Turkey, and Vietnam.
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